OKLAHOMA CITY, April 7, 2011 /PRNewswire/ — Graymark Healthcare
Inc. (NASDAQ:
GRMH), the nation’s second largest provider of diagnostic sleep
services and an innovator in comprehensive care for obstructive
sleep apnea (OSA), realized a 107% year-over-year increase in
patient resupply shipments in the first quarter of 2011.
Resupply shipments were also up slightly sequentially,
setting a record in what is typically the slowest quarter of the
year.
In the first quarter of 2011, Graymark shipped 2,244 resupply
packages relating to its Continuous Positive Airway Pressure (CPAP)
machines, versus 1,084 in the same year-ago quarter and 2,220 in
the previous quarter. The increase is an extension of the
growth in the number of sleep studies performed through the
company’s higher margin outreach program. The number of sleep
therapy setups were also up 10% from the year-ago quarter, from 620
to 680 in the first quarter of 2011.
The resupply portion of the business represents an important
recurring revenue aspect of Graymark’s business model.
Patients compliant on their CPAP devices typically receive
four shipments of maintenance supplies annually.
“Building upon the record January we previously reported, the
remainder of the quarter finished strong,” said Stanton Nelson,
chairman and CEO of Graymark Healthcare. “We improved
platform metrics across the board despite this quarter typically
being the most challenging due to the resetting of patient
deductibles. These results validate the strength of our
organic growth strategy in the fast growing sleep management
market, especially how we overcame the typical adverse seasonal
factors by surpassing the fourth quarter of 2010.”
Graymark’s effective five-step clinical approach to managing
sleep disorders includes a convenient referral process, accurate
and timely assessment, diagnosis,
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